It's official: your organisation's project success, over time, is what determines Value
Sydney, Australia - April 18th, 2016 - What determines true organisational success these days?
Research undertaken by Pulse shows that today, more than ever, an organisation’s success is dependent on high project performance—projects completed on time, on budget and meeting stated goals.
But how often is that actually happening?
Approximately 89 percent of projects at high-performing organisations meet original goals and business intent, compared with just 36 percent at low-performing organisations.
Very few organisations (9 percent) rate themselves as excellent on successfully executing initiatives to deliver strategic results. Consequently, only 56 percent of strategic initiatives meet their original goals and business intent.
Unfortunately, this poor performance results in organisations losing $109 million for every $1 billion invested in projects and programs.
Most strategic change actually happens through these projects and programs. And organisations that have shown high performance in project management do so because they prioritise strategic alignment and agility when considering and pursuing their engagements. Or not.
Though executives know what they should be doing – 88 percent say that strategy implementation is important to their organisations – sixty-one percent acknowledge that their firms often struggle to bridge the gap between strategy formulation and its day-to-day implementation.
So what if you had a solution at your disposal that could do a majority of that thinking for you?
Hiring the right people and having a top talent management culture is imperative to the success of an organisation. However, processes and the ability to execute and complete on projects is a very close second - and without the right systems, even the best people can flounder in the pool of mismanagement.
Successful organisations have a clear focus on the outcomes of their intended projects. And the better your processes, the better you can track your goals and perform. In today's agile and data driven age, nothing helps you standardise your project management practices - especially around complex team structures - like intuitive and high value software.
The right software solution allows for the establishment, measurement and communication of the expected benefits of an organisation’s initiative - taking that out of your people's hands and allowing them to focus on the more strategic and results-oriented elements of their job.
A professional service organisation who bases most of their business on seeking out and providing project solutions are moving more and more to geographically dispersed teams, with project managers and teams that may never meet face to face - how else do you manage such complex webs of achievement if not in the cloud?
Modern performance management should be dynamic, agile, and transparent. But despite a rapid influx of major projects in recent years, many of these are failing. If you want to be in the category of high achievers, you need a system that lets the whole organisation keep track of goals, focus on the most strategic tasks and stay on top of things with clear and sophisticated reporting.
High organisational alignment of projects to strategy has become integral to navigating an increasingly competitive market environment. A great way to create this synergy is by investing in people, processes and software implementation. After all, the results are in.